NES Financial Selected by Epelboim Development Group for Miami Int’l Airport Hotel Project
San Jose, CA, February 2, 2016 – NES Financial announced today that its Intelligent EB-5 Solutions – Fund Administration and Immigration Workflow – have been selected by Epelboim Development Group on their latest project, EVEN® Hotel at the Miami Int’l Airport.
The EB-5 visa program, created in 1990, encourages investment into projects that stimulate U.S. job growth, while providing an opportunity for foreign nationals to become lawful permanent residents. While relatively obscure in early decades, recent years have seen exponential growth in the use of this capital in projects of all types and sizes. Commercial real estate developers in particular have gravitated strongly toward low-cost EB-5 money, frequently making it a standard part of their capital stacks.
Located one mile east of the Miami International Airport, EVEN® Hotel at Miami Airport will feature 190 rooms and a five story parking garage when it opens in 2018. EVEN® Hotels is the newest lifestyle hotel brand of the InterContinental Hotels Group and was created with wellness at its core. The brand is designed to help travelers Eat Well, Rest Easy, Keep Active, and Accomplish More, making it ideal to better serve wellness-minded travelers and is the first of its kind in the Southeast and the fifth of its kind in the entire country.
“With over 30 years of experience in commercial real estate, we understand the importance of making sure our business processes run as smoothly as possible,” said Noel Epelboim, CEO and President of Epelboim Development Group. “NES Financial’s EB-5 Solutions help us achieve this by lifting the heavy administration work off of our plate so we can focus on developing the project.”
NES Financial’s suite of Intelligent EB-5 Solutions is designed to cover the unique requirements of the entire EB-5 process, start to finish. Each solution provides security, transparency, and compliance for the utmost investor confidence in a project. Whether utilizing select products or the entire bundle, these unique solutions take care of the middle and back office administration so issuers can focus on doing what they do best.
“As compliance requirements in the industry continue to increase, we expect to see EB-5 issuers overlay our Intelligent EB-5 Fund Administration and Immigration Workflow Solutions onto existing projects,” said Reid Thomas, NES Financial Executive Vice President. “Outsourcing these functions to a third party is considered a best practice in the administration of traditional private equity funds. Experienced issuers in the EB-5 space understand the importance of working with third party administrators in order to deliver the highest levels of security, transparency, and compliance.”
For the full report, go to NES Financial